The intensity of trade exchange between these three economic poles is determined by many factors — from markets to infrastructure, such as transport and logistics potential and the capacity of existing routes. These links are grounded in the search for an optimal balance of geographic, political and economic factors. In addition, their long-term institutional interaction, supported by a wide range of bilateral international agreements, is also decisive. Characteristically, the two most sweeping treaties for interaction, namely the Comprehensive Investment Agreement (between the EU and China) and the Transatlantic Trade and Investment Partnership (between the EU and the USA), reached their final stages of development, but at the last stage they never entered into force.
We can speak, at present, about the significant intensity of trade and economic relations between Europe and its partners in the West and the Far East. In 2021, the total exports of EU countries to the United States amounted to almost 400 billion euros, while exports to China totaled 223.4 billion euros. By weight, the exports measured 73.8 million tons and 51.6 million tons, respectively.
The EU’s trade with each of these partners has specific features. EU exports to the US and China have a different structure. The key components of trade with the United States are fuel and energy (35% of the volume) and agriculture (11%). The key components in trade cooperation with China are forestry industry products (39%), agriculture, and the food industry (25%).
